Shupe v. Rocket Companies, Inc. et al

  1. January 29, 2024

    Rocket Investors Want Class Cert. Despite Meme Stock Surge

    Rocket Mortgage shareholders said a social media-driven surge in the company's stock price shouldn't tank a class certification bid, because even during the so-called meme stock event, the stock price still reflected alleged misrepresentations about the mortgage lender's financial health.

  2. December 11, 2023

    Rocket Mortgage Says Reddit 'Frenzy' Dooms Class Cert. Bid

    Rocket Mortgage has asked a Michigan federal judge to nix a class certification bid in investor litigation alleging the company hurt investors by hiding a downturn in demand for certain loans, arguing that a Reddit "frenzy" over its shares is a sign it was trading in an inefficient market during some of the proposed class period.

  3. August 31, 2023

    Rocket Mortgage Investors Seek Cert. In Loan Downturn Suit

    Investors in the parent company of Rocket Mortgage have asked a Michigan federal judge to certify their proposed class in a suit alleging the company failed to disclose a downturn in demand for certain loans, hurting shareholders after trading prices for its shares fell once the company acknowledged the trend's damage to its revenues.

  4. July 05, 2023

    Rocket Mortgage Can't Trim Investors' Fraud Suit

    A Michigan federal judge has denied Rocket Mortgage's renewed bid to whittle down the number of actionable statements in a securities fraud suit against it, ruling that the request was not worth considering because it would not change the fact that the lender must face investor claims.